Abstract
The new estimates of imports and exports equations for Italy have been done for providing the Irnterindustry Italian Model (INTIMO) of a suitable set of equations since the model has expanded including besides the original real side (Grassini,l982) the blocks of the price equation and the income side. An input-output model with real and price sides integrated requires in fact a careful definition of the prices influencing the final demand components of the real side in order to preserve the simultaneity among the variables determined inside its blocks; this implies a clear link between the producers’ prices determined in the price side of the model and the prices considered as explanatory variables in the imports and exports equations.
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Barnabani, M., Grassini, M. (1985). On Modeling Foreign Trade in an Input—Output Model of an Open Economy. In: Smyshlyaev, A. (eds) Input-Output Modeling. Lecture Notes in Economics and Mathematical Systems, vol 251. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-22035-1_10
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DOI: https://doi.org/10.1007/978-3-662-22035-1_10
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